In 2021, the global passenger information system market was worth USD 24.08 billion. It is projected to grow at a compound annual rate (CAGR) of 10% between 2023-2032.
Transit agencies are required to provide accurate, reliable, and current transit information to their passengers. This is why the market is growing. There are several growth factors in the market, including the increased use of the internet and mobile devices by travellers and passengers to search for factual information. This is important because it allows them to travel more safely and connect with others.
To know about more drivers and challenges – Download a PDF sample@ https://market.us/report/passenger-information-system-market/request-sample/
The market for passenger information systems is growing due to a greater focus on reliable, consistent and reliable passenger information, as well as a rising number of passengers using public transport. A rise in passenger journeys by public transport annually, as well as the growing infrastructure around the globe, is expected to stimulate demand for passenger information systems.
Passenger Information System Market Drivers:
-The Passenger Information System market (PIS Market) has many key drivers, including the growing adoption and an increasing number of software-defined Information centers.
– Cloud-based tools are becoming more popular. Software-defined network companies in the large-area can offer cloud computing services.
– More Smart Phones Adopted
– Cloud & Big Data Technologies Increasingly Popular
Passenger Information System Market Restraint: Stringent transportation regulatory policies
- To limit market growth, there are two main factors:
1) High implementation costs
2) Lack of infrastructure for passenger information systems.
- Taxi owners in multiple countries need separate licenses and registration papers to conduct their operations. This presents challenges for providers of app-based mobility services as they don’t own these vehicles. The vehicle operators cannot provide services on-demand to their customers under the transportation regulatory policies. This has a negative impact on the growth of this segment.
Recent Developments in Passenger Information System Market:
In January 2021, Cubic Corporation launched “UMO” fully integrated suite of platforms for mobility, riders, Service providers and transit agencies to enhance its existing transportation technology portfolio. UMO is a versatile set of solutions that enables passengers plan trips across public and private modes and to pay fares, receive rewards for travelling, and get real-time information to improve their mobility.
Alstom purchased Bombardier Transportation in January 2021. Alstom will increase its leadership position in the rapidly growing sustainable mobility sector by achieving critical size in all geopolitics and integrating additional solutions to better serve its clients around the world as part of this purchase.
In June 2020, Wabtec Corporation launched “BlueFilter”, an air-filtration invention, to provide a healthy, and clean atmosphere for train and metro passengers. BlueFilter in railcars removes more than 90%of impurities every air cycle, TUV tested and meets high safety standards.
Scope of the Report
| Attribute | Details |
| Market Size in 2021 | USD 24.8 Bn |
| Growth Rate | 10% |
| Historical Years | 2016-2020 |
| Base Year | 2021 |
| Quantitative Units | USD In Bn |
| No. of Pages in Report | 200+ Pages |
| No. of Tables & Figures | 150+ |
| Format | PDF/Excel |
| Sample Report | Available – Click here to Get a Sample Report |
Key Market Segments:
By Type
- Information Display System
- Announcement System
- Infotainment System and Other Types
By Mode
- Airway & Waterway
- Railway
- Roadway
By Component
- Solution
- Services
Market segment by Region, regional analysis covers
- North America (United States, Canada and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
Frequently Asked Questions:
- What is Passenger Information System (PIS), and what does it mean?
- What are the driving forces of the PIS market?
- What are the main challenges facing the PIS market?
- Who are the main vendors in the passenger-information system market?
- How does the industry compare in terms of competition?
- What is the global passenger information system market worth?
- Which region is expected to have the largest passenger information system market share?
- What value is the passenger information systems market for the future?
About Market.us
Market.US (Powered by Prudour Private Limited) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report providing firm.
Contact Details:
Global Business Development Team – Market.us
Market.us (Powered by Prudour Pvt. Ltd.)
Address: 420 Lexington Avenue, Suite 300 New York City, NY 10170, United States
Phone: +1 718 618 4351 (International), Phone: +91 78878 22626 (Asia)
Email: [email protected]
Explore our related report:
Global Airport Passenger Boarding Bridges Market Growth | Global 2022 – Regional and Development Ideas by 2031
Global Automated Passenger Counting and Information Systems Market Forecast | Global Insights on Modern Trends till 2031
Global CNG Passenger Cars Market Trend | Leading Players and Future Prospect till 2031
Global Electric Passenger Car Motor Market Size | Statistics, Opportunities and Reports 2031
Global Airline Passenger Communications System Market Growth | Top Company Shares, Regional Forecasts to 2031
